Pet Care Eyeing 2 Trillion Won... 'Supplements & Dog Strollers' Popular as Lunar New Year Gifts

Growing Petfam Families... "Our Meongmeongi is Family"
January 1-15 Pet Category Up 10% Month-on-Month
Oral Care Supplements... Strollers and Carriers Too

[Asia Economy Reporter Cha Min-young] As the number of 'pet fam' who consider pets as family members increases, gifts for pets are gaining popularity ahead of the Lunar New Year holiday. In particular, it is interpreted that the trend has expanded from preparing anti-aging products for elderly parents to health care supplements for senior dogs and others.

According to 11st on the 19th, from January 1 to 15, two weeks before the Lunar New Year, the transaction amount in the 'pet' category increased by nearly 10% compared to the previous month. Compared to five years ago, the scale has grown by 80%.

Along with filial piety gifts for parents, demand for pet supplements stood out. Older animals such as senior dogs are prone to joint diseases, allergies, and skin diseases. In fact, this month, the transaction amount for pet 'oral care supplements' increased by 21% compared to last month, 'eye and ear supplements' by 5%, and 'pest control products' by 7%.

Purchases of outing and transportation items also increased. The transaction amounts for pet-exclusive 'strollers' and 'carriers' increased by 34% and 15%, respectively. Demand for 'MaisondeDog pet hanbok,' last year's bestseller in the 'pet hanbok' category, also rose.

The spotlight on pet care products as Lunar New Year gifts is closely related to the growth trend of the pet care market. According to the global research firm Euromonitor, the domestic pet care (pet food/pet supplies) market size reached 1.7639 trillion KRW as of 2019. The market size has grown for five consecutive years, from 1.133 trillion KRW in 2014 to 1.2834 trillion KRW in 2015, 1.4232 trillion KRW in 2016, and 1.6728 trillion KRW in 2018.

In particular, the pet food market was similar in size to pet supplies five years ago in 2014 but grew at a steeper rate. Pet food grew at an average annual rate of 12.2% from 2014 to 2019, expanding by 77.7%. Pet supplies grew by 5.9% annually, increasing by a total of 33.3%.

By distribution channel, the number of customers purchasing through online-based e-commerce markets increased sharply. For pet food, the e-commerce sales share reached 49.4% at the end of 2019, surpassing offline (41.0%). For pet supplies, offline (40.6%) still led e-commerce (35.4%), but the gap narrowed compared to five years ago.

An official from 11st explained, "The popularity of various supplements and health products for pets' health and nutrition is steadily increasing," adding, "It seems that the consumption pattern of customers purchasing anti-aging products as filial piety gifts for parents during the Lunar New Year has extended to pets, who are also considered family members."

This content was produced with the assistance of AI translation services.